You are viewing a single comment's thread from:
RE: Crypto pulls back largely based on the remarks of a couple finance legends
Sadly the fact that the words of individuals can cause such havoc on a market shows that it is far from ready for the big time.
Also why do they only speak up as things are rising?
Good question. Why do they need to have an opinion at all on something they don't really understand or are invested in?
This is the part that gets me the most. I want to know how much they secretly own.
I think they aren't talking about bitcoin when they are talking about bitcoin. They are talking about the cryptocurrency market as a whole. They just don't understand it. I would also go as far as to say that more than 1000 currencies will come to a bad end. Which even sounds ridiculous. Why the heck do we have about 1600 listed currencies?
I personally regard Warren Buffett highly and he has been an inspiration for my investment strategy. However, I don't invest in the companies he invests in these days. Times are changing. However, I think it is good that people like him speak up when it comes to investing in highly volatile markets, so that people understand that if they buy the ICO that hasn't launched yet, they might never again see their money. Just because they don't get all their facts right, doesn't mean that what they are saying is completely wrong. The people who listen to them blindly, are better off not investing into crypto anyway, at this point.
Just my two cents.
That's sort of a dumb question. If these guys don't understand something they can hire the best of professionals to get the answers.
Correct, so why not wait till you are more well informed to state your strong opinions publicly?
You are quite right, it is very sad that comments from old cargos like this could cause such ripples. Really unfortunate.